Coca-Cola tops earnings estimates, hikes revenue outlook on higher prices

Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations.

The beverage giant also raised its full-year outlook for organic revenue.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 72 cents adjusted vs. 70 cents expected
• Revenue: $11.30 billion vs. $11.01 billion expected

Coke reported first-quarter net income attributable to the company of $3.18 billion, or 74 cents per share, up from $3.11 billion, or 72 cents per share, a year earlier.

Excluding items, the beverage giant earned 72 cents per share.

Net sales rose 3% to $11.30 billion.